Loncor Gold Completes C$9.4 Million Private Placement for Imbo Project Expansion

An announcement from Loncor Gold ( (TSE:LN) ) is now available.

On May 23, 2025, Loncor Gold Inc. announced the closing of its brokered private placement, raising C$9.4 million, including the full exercise of the agent’s option. The funds will be used for ongoing exploration and advancement of the Imbo Project in the DRC and general corporate purposes. The offering, managed by Red Cloud Securities, involved the sale of units comprising common shares and warrants, with securities sold to Canadian and international investors under specific exemptions. This financial move is expected to bolster Loncor’s exploration activities and strengthen its position in the gold exploration industry.

The most recent analyst rating on (TSE:LN) stock is a Buy with a C$1.57 price target. To see the full list of analyst forecasts on Loncor Gold stock, see the TSE:LN Stock Forecast page.

Spark’s Take on TSE:LN Stock

According to Spark, TipRanks’ AI Analyst, TSE:LN is a Underperform.

Loncor Gold’s stock score is primarily impacted by its financial instability, characterized by no revenue, rising losses, and negative cash flows. While technical analysis shows some potential for positive momentum, the company’s valuation remains poor with a negative P/E ratio. Notable corporate events highlight future growth potential but do not offset current financial challenges.

To see Spark’s full report on TSE:LN stock, click here.

More about Loncor Gold

Loncor Gold Inc. is a Canadian gold exploration company focused on the Ngayu Greenstone Gold Belt in the northeast of the Democratic Republic of the Congo. The company has over two decades of experience operating in the DRC, with a growing resource base centered on the Imbo Project. The Adumbi deposit within this project holds significant indicated and inferred mineral resources of gold.

Average Trading Volume: 211,589

Technical Sentiment Signal: Buy

Current Market Cap: C$106.7M

For an in-depth examination of LN stock, go to TipRanks’ Stock Analysis page.